KYC (Know Your Customer) is important on Binance for several reasons: 1. *Security*: KYC helps prevent fraud, money laundering, and terrorist financing by verifying the identity of users. 2. *Compliance*: Binance must comply with regulatory requirements and anti-money laundering laws, which require KYC verification. 3. *Protection of assets*: KYC ensures that users' assets are safe and reduces the risk of account hacking and theft. 4. *Account limitations*: KYC verification removes withdrawal limits, allowing users to access higher limits and enjoy full platform functionality. 5. *Trust and credibility*: KYC builds trust and credibility between Binance and its users, ensuring a secure and reliable trading environment. 6. *Prevention of fraudulent activities*: KYC helps prevent activities like phishing, identity theft, and other scams. 7. *Compliance with regulations*: KYC enables Binance to comply with regulatory requirements and maintain its operating licenses. By implementing KYC, Binance creates a secure and trustworthy platform for users to trade and manage their cryptocurrencies.$BTC $ETH $BNB
The total volume in DeFi is currently $7.26B, 11.31% of the total crypto market 24-hour volume. The volume of all stable coins is now $58.84B, which is 91.68% of the total crypto market 24-hour volume. Bitcoin's dominance is currently 53.11%, a decrease of 0.43% over the day.
Bitcoin's Modest Rally Cut Short, Price Tumbles Back Below $61K
The price of bitcoin (BTC) fell sharply in the U.S. morning hours Friday, reversing a move that had seen the world's largest crypto climb as high as $63,500. As good of an excuse as any for catalysts were disappointing U.S. economic data and hawkish remarks from Dallas Fed President Lori Logan. The University of Michigan Consumer Sentiment Survey for May tumbled to 67.4 from 77.2 previously. That missed economist forecasts for 76.0 by a mile. Perhaps more disturbingly, one-year inflation expectations rose to 3.5% from 3.2% previously and against forecasts for 3.2%. It was only one week ago when Federal Reserve Chairman Jerome Powell scoffed at stagflation concerns, saying he was seeing neither the "stag" nor the "flation." As for the Dallas Fed chief, Logan this morning said there were "uncertainties" about whether current Fed policy is sufficiently restrictive and noted "important upside risks to inflation." The news combined to send the U.S. dollar and bond yields modestly higher, but had little effect on stocks. Bitcoin, on the other hand, retreated quickly, tumbling at one point more than 4% from the day's high to $60,700. At press time, the price had bounced a hair to $61,000, lower by 0.6% over the past 24 hours. The broader CoinDesk 20 Index is up 0.15% over the same period. #BinanceLaunchpool #altcoins #BTC #Memecoins
#Bitcoin price is $60,507.64 and is down 2.4% over the last 24 hours, #Ethereum price is $2,896.91 and is down 3.4% over the last 24 hours, #FearAndGreedIndex is 66 - Greed, #BTC🔥🔥🔥🔥🔥 #ETHETFS #BinanceLaunchpool